Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Investment Opportunity in Warren Title is generated by Realmo AI

    628 Metacom Avenue, Warren, RI 02885

    View on Map
    Claim this Listing
    For Sale
    $1,750,000

    COMMERCIAL - Warren, RI

    Property size:
    12,014 SF
    Lot size:
    1.20 Acres
    Price / SF:
    $145/SF
    Added:
    Apr 1, 2026
    Days on Market:
    44
    Last Refresh:
    May 14 at 11:06 pm

    Property Features for 628 Metacom Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B
    Rooms
    Basement
    Parking
    65
    Security features
    Security
    Interior features
    Ceiling Height (7 to 9 Ft)
    Basement
    Full
    Standard status
    Active
    Size
    12,014 SF
    Lot size
    1.20 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    15041

    Utilities

    Heating system
    Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    1
    Number of units
    1
    Building materials
    Frame

    We can help!

    Listing Contact
    Kathleen Flaherty

    Listing agent Kathleen Flaherty

    Listing office Residential Properties Ltd. 259 County Road, RI

    Listing date Apr 1, 2026

    MLS# 1408765

    Copyright © 2026 State Wide MLS of Rhode Island, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High‑visibility location on well‑traveled Rte 136 northbound side.
    • Nearly 12,000 sq ft of versatile commercial space with 14 units.
    • 13 of 14 units are currently occupied by 8 thriving retail businesses.
    • Additional 2,800 sq ft income‑producing basement rental space.
    • 60 parking spots for tenants and customers.
    • Gas and electric HVAC systems for each unit.

    Overview

    This commercial property is located on the northbound side of Metacom Avenue, also known as Route 136. The property includes nearly 12,000 square feet of space, configured as 14 units. Currently, 13 units are occupied by 8 retail businesses. Each unit has gas and electric HVAC systems. There are 60 parking spots available. The property also features a 2,800-square-foot basement that can be used as income-producing rental space. Additional office space is located on the second floor, providing more income-generating opportunities. The property is located in Warren, Rhode Island.
    Location Intelligence

    Current Use by Public Records

    Tap Printing Inc. (Bike/Boat/Book/etc) Store New England Computers Electronics & Wireless Store Advance America Loan Service Ink Munkee Apparel (Bike/Boat/Book/etc) Store Sam's Cleaners (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Ocean State Plaza Shopping Center — Metacom Ave, Warren, RI 02885

    Location Insight

    • Map
    • Local Demand
    City
    Warren
    County
    Bristol
    State
    Rhode Island
    Longitude
    -71.267923
    Latitude
    41.717924

    Nearby Similar for Sale

    • $699,000
      5,511 SF

      Mixed-Use Buildings in Warren, RI

      Mixed-use property with three buildings, garage, and ample parking.
      367 Child Street, Warren, RI 02885
      View Details
    • $699,000
      5,511 SF

      Mixed-Use Buildings in Warren, RI

      Three buildings with commercial and residential units, plus detached garage.
      367 Child Street, Warren, RI 02885
      View Details
    • $945,000
      5,706 SF

      Warren RI Multifamily Investment Opportunity

      Five-unit multifamily property near downtown Warren and historic Water Street.
      126 Main Street, Warren, RI 02885
      View Details
    • $1,499,000
      9,900 SF

      Warren Multi-Property Investment Opportunity

      Value-add multi-property purchase in the heart of Warren.
      367 Child Street, Warren, RI 02885
      View Details
    • $2,000

      Office with Secure Outdoor Storage

      Office space with gated, secure outdoor storage included.
      51 Cole Street, Warren, RI 02885
      View Details
    • $500
      381 SF

      Downtown Warren Office Space

      Office space in the heart of downtown Warren, Rhode Island.
      16 Miller Street, Warren, RI 02885
      View Details
    • $2.00

      Downtown Warren Office Space Available

      Professional office space in downtown Warren, steps from amenities.
      10 Child Street, Warren, RI 02885
      View Details
    • $699,000
      5,511 SF

      Mixed-Use Property in Warren

      Multi-building mixed-use property with commercial and residential units.
      367 377 Child Street, Warren, RI 02885
      View Details
    • $699,000

      Mixed-Use Property in Warren

      Multi-building property with commercial and residential units in Warren.
      367 Child Street, Warren, RI 02885
      View Details
    • $1,750,000
      12,000 SF

      Versatile Commercial Property on Metacom Avenue

      Commercial property with 14 units, high visibility, and income potential.
      628 Metacom Avenue, Warren, RI 02885
      View Details
    • $985,000
      1,152 SF

      Del's Lemonade Franchise & Real Estate

      Thriving Del's Frozen Lemonade franchise with prime real estate.
      65 Child, Warren, RI 02885
      View Details
    • $1,400,000

      Warren Commercial Building For Sale

      Commercial building in a high-visibility location with strong local traffic.
      275 Child St, Warren, RI 02885
      View Details

    FAQs

    What type of property is this?
    Shopping center - Commercial property with high visibility and income-producing potential.
    Where is this shopping center located?
    The property is located at 628 Metacom Avenue Warren, RI.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: High‑visibility location on well‑traveled Rte 136 northbound side.; Nearly 12,000 sq ft of versatile commercial space with 14 units.; 13 of 14 units are currently occupied by 8 thriving retail businesses.
    (401) 439-7705
    We can help!
    Listing Contact
    Kathleen Flaherty
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    628 Metacom Avenue, Warren, RI 02885
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!